2. The EU must introduce mechanisms to reduce the burden of regulation on businesses

Substantial safeguards are needed that would protect businesses that do not export to the EU.

One possible mechanism could be a ‘one in one out’ rule. The UK should push for a substantial decrease in the legislative burdens that currently define the CAP and CFP as well.

3. Control over social and employment laws must be returned to the member states

The EU increased its remit beyond the narrow needs of a purely common market into “the social dimension of Europe” many years ago. Any satisfactory renegotiation would have to see the UK, once again, exempt from the Social Chapter, and the UK Parliament free to adapt social and employments laws to meet social needs.

4. Damaging EU financial laws must be reversed

EU laws have become extremely expensive and damaging for the UK’s financial sector.

There is a strong argument for the UK to have a veto over new EU financial laws (in the same way that France has a veto over any changes to the CAP, allowing it to protect its priority industry: agriculture).

5. There must be a permanent mechanism for protecting the non-Eurozone states

Current rules mean some decisions are subject to a “double-majority lock”, which means a vote among Eurozone members, and then a vote among non-Euro countries.

But if the number of non-Euro states falls below four – as is quite likely – the double-lock rules lapse, raising raises the dire prospect of the Eurozone forcing the non-Eurozone states to adopt laws that they disagree with. The double-lock must be made permanent.

6. The EU must show that it is capable of securing comprehensive free trade deals

The EU has a very poor record at securing trade deals with other countries.

Comprehensive trade deals with the US, India and China should be secured or, at the very least, be clearly en route to be secured by the time the renegotiation is over.

7. There must be a permanent, lasting reduction in the EU Budget

Between 2003 and 2013 the UK’s net contributions to the EU increased from £3bn to £11bn.

For any renegotiation to be deemed satisfactory, there would have to be substantial changes to the EU Budget: a clear ongoing commitment to a real terms fall in the UK contribution, back towards 2003 levels.

In addition, the Rebate changes that were secured by Tony Blair in 2005, which have resulted in a £10.4bn drop in the value of the UK’s Rebate, must be reversed.

8. UK transparency laws must be introduced in the EU

EU spending is opaque and secretive, allowing misuse. UK reforms, such as the requirement to publish information on all Government spending over £500 and Government contracts over £25,000, should serve as a template for EU spending.

9. Control over migration policy must be restored to the member states

Treaty changes allowing the UK to require EU jobseekers who do not find a job within six months to leave, require EU migrants to have a job offer before they come to the UK and, probably, end the right of non-EU family members to enter without restrictions are the minimum for successful renegotiation.

The UK must also push for the Treaty to be reworded so that it refers to the free movement of workers rather than people (‘workers’ should be defined as skilled workers). Alternatively, the UK could seek to reach a new settlement where it could democratically control the number of people coming into the UK.

10. A form of national veto must be reintroduced

Far more effective tools are needed to ensure that the UK could block measures that it fundamentally disagrees with, and these tools must be secured in any renegotiation.

Examples of possible changes could be the securing of a genuine ‘red card’ (which would give legal weight to the parliaments’ opposition and would force the European Commission to drop proposals) or an entitlement for national parliaments to revoke EU law in certain circumstances. These would, however, require Treaty change to have legal weight and to be permanent.

Extracted from Change, or Go, published by Business for Britain. The editorial board: Jon Moynihan (Chairman); Andrew Allum of LEK Consulting; Matthew Elliott of Business for Britain; Luke Johnson Risk Capital Partners; Mark Littlewood of the Institute of Economic Affairs; John Mills of JML Ltd; Helena Morrissey of Newton; and Viscount Ridley.

Business for Britain is a campaign group seeking radical changes in Britain’s relationship with the EU. Telegraph Media Group, which owns the Daily Telegraph, helped fund the project.